LJI Wealth Management LLC Raises Stock Position in Target Corporation $TGT

LJI Wealth Management LLC lifted its stake in Target Corporation (NYSE:TGT) by 446.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 23,836 shares of the retailer’s stock after acquiring an additional 19,474 shares during the period. Target accounts for approximately 0.4% of LJI Wealth Management LLC’s portfolio, making the stock its 27th biggest position. LJI Wealth Management LLC’s holdings in Target were worth $2,138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LBP AM SA acquired a new position in shares of Target during the 2nd quarter worth $5,427,000. Precedent Wealth Partners LLC boosted its holdings in Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after buying an additional 2,869 shares in the last quarter. Mattern Capital Management LLC grew its position in Target by 7.6% during the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after buying an additional 5,573 shares during the period. Northern Financial Advisors Inc purchased a new position in Target in the second quarter valued at about $370,000. Finally, CWM LLC lifted its position in shares of Target by 41.5% during the 3rd quarter. CWM LLC now owns 38,819 shares of the retailer’s stock valued at $3,482,000 after acquiring an additional 11,378 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Up 0.1%

Shares of TGT stock opened at $111.19 on Friday. The company has a market capitalization of $50.35 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 12.10 and a beta of 1.12. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $95.91 and a 200 day moving average price of $96.17. Target Corporation has a twelve month low of $83.44 and a twelve month high of $145.08.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The business had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. During the same quarter in the previous year, the business posted $1.85 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TGT. Piper Sandler restated a “neutral” rating and issued a $85.00 price target (down previously from $94.00) on shares of Target in a report on Thursday, November 20th. TD Cowen lowered their target price on Target from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, November 20th. DA Davidson set a $120.00 price target on Target in a research report on Monday, January 12th. Roth Capital set a $88.00 price objective on shares of Target in a research report on Thursday, November 20th. Finally, Royal Bank Of Canada lowered their price objective on shares of Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $103.67.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.